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《大行報告》瑞信:招行(03968.HK)聘任王良出任行長 消除管理不穩定陰霾
阿思達克 05-20 10:14
瑞信發表報告,認為招行(03968.HK)聘任王良出任行長,消除管理不穩定陰霾,相信銀保監會最終批准任命的機會很高,預計王良將在未來幾年領導招行的發展,不會發生重大戰略轉變。瑞信維持對招行評級「跑贏大市」,目標價68元。 報告認為,任命的進展可能比許多人預期的要快,管理和戰略的連貫性將恢復市場信心,認為招行仍然是質素最好的內銀,目前估值相當於未來一年預測市賬率1.1倍,短期內應該會有不錯的反彈,可能會回到4月中旬1.3倍或以上的水平。 瑞信表示,隨著管理層不確定性的消除,市場下一階段的重點可能會轉向招行第二季業務和全年前景,認為宏觀形勢存在一些不確定性。
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